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Shenzhen Daily: Carrefour slashes prices to spur festival sales

by Liu Minxia

FRENCH retail giant Carrefour will slash the prices of more than 2,800 items in its eight outlets in Shenzhen from tomorrow through Feb. 9 as part of an unprecedented markdown across China to boost sales amid a deepening economic downturn.

The world’s second-largest retailer said yesterday the prices of selected goods at its 125 stores across China would be cut by 20 to 30 percent on average. A special team will be designated to collect market information in Shenzhen and adjust the prices every three hours to make sure they are up to 2 percent lower than the lowest prices of the same products available on the local retail market.

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